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Itafos Inc V.IFOS

Alternate Symbol(s):  MBCF

Itafos Inc. is a phosphate and specialty fertilizer company. Its businesses and projects include Conda, Arraias, Farim, Santana and Araxa. Conda is a vertically integrated phosphate fertilizer business located in Idaho, United States with a production capacity of over 550 Kiloton (kt) per year of mono ammonium phosphate (MAP), merchant grade phosphoric acid (MGA) and ammonium polyphosphate (APP), and approximately 27kt per year of hydrofluorosilicic acid (HFSA). Arraias is a vertically integrated phosphate fertilizer business located in Tocantins, Brazil with a production capacity of approximately 500kt per year of single superphosphate (SSP) and SSP with micronutrients (SSP+). Farim is a phosphate mine project located in Farim, Guinea-Bissau. Santana is a vertically integrated high-grade phosphate mine and fertilizer plant project located in Para, Brazil. Araxa is a vertically integrated rare earth element and niobium mine and extraction plant project located in Minas Gerais, Brazil.


TSXV:IFOS - Post by User

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Post by kijijion Oct 25, 2021 8:28am
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Post# 34043881

Draft Environmental Impact Statement Conda Mine Extension

Draft Environmental Impact Statement Conda Mine Extension
HOUSTON, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Itafos Inc. (TSX-V: IFOS) (the “Company”) announced today a significant milestone on Conda’s mine life extension with the publication of the Draft Environmental Impact Statement (“Draft EIS”) for the Husky 1/North Dry Ridge (“H1/NDR”) mine development project. The Company previously defined H1/NDR as the path forward for Conda’s mine life extension following completion of the independent technical report encompassing Conda and Paris Hills deposits during 2019.
 
“The publication of the Draft EIS is an important step in executing on our key objective of extending Conda’s mine life through permitting and developing H1/NDR. Conda has a more than 30-year track record of safe and reliable operations and we look forward to continuing to serve our customers for many years to come,” said Tim Vedder, General Manager of Conda.
 
The Draft EIS was prepared under the National Environmental Policy Act (“NEPA”) by the U.S. Department of the Interior Bureau of Land Management and the U.S. Department of Agriculture Forest Service. The NEPA process is designed to help public officials complete permitting decisions that are protective of the environment and includes a public engagement process. The Draft EIS was published on the Federal Register on October 22, 2021, which initiated a public comment period through December 6, 2021. The Draft EIS is available on the Federal Register at https://www.federalregister.gov/documents/2021/10/22/2021-23027/notice-of-availability-of-draft-environmental-impact-statement-for-the-proposed-husky-1-north-dry.
 
 
On October 30, 2019, the Company announced the results of the independent technical report encompassing Conda and Paris Hills deposits and defined H1/NDR as the Company’s path forward for mine life extension. The independent technical report was compiled by Golder Associates Ltd. and titled “NI 43-101 Technical Report on the Itafos Conda and Itafos Paris Hills Mineral Projects, Idaho, USA” (the “Conda Technical Report”). On December 16, 2019, the Company announced the conversion of Mineral Resources to Mineral Reserves related to Conda’s existing mines, which are expected to extend Conda’s mine life through mid-2026. The Conda Technical Report is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.itafos.com.
 
About Itafos
 
The Company is a phosphate and specialty fertilizer company. The Company’s businesses and projects are as follows:
 
Conda – a vertically integrated phosphate fertilizer business with production capacity of approximately 550kt per year of monoammonium phosphate (“MAP”), MAP with micronutrients (“MAP+”), superphosphoric acid (“SPA”), merchant grade phosphoric acid (“MGA”) and ammonium polyphosphate (“APP”) located in Idaho, US;
 
Arraias – a vertically integrated phosphate fertilizer business with production capacity of approximately 500kt per year of single superphosphate (“SSP”), SSP with micronutrients (“SSP+”) and approximately 40kt per year of excess sulfuric acid (220kt per year gross sulfuric acid production capacity) located in Tocantins, Brazil;
 
Farim – a high-grade phosphate mine project located in Farim, Guinea-Bissau;
 
Santana – a vertically integrated high-grade phosphate mine and fertilizer plant project located in Par, Brazil;
 
Arax – a vertically integrated rare earth elements and niobium mine and extraction plant project located in Minas Gerais, Brazil;
 
Paris Hills – a phosphate mine project located in Idaho, US (wind down in process); and
 
Mantaro – a phosphate mine project located in Junin, Peru (wind down in process).
 
The Company is a Delaware corporation that is headquartered in Houston, TX. The Company’s shares trade on the TSX Venture Exchange (“TSX-V”) under the ticker symbol “IFOS”. The Company’s principal shareholder is CL Fertilizers Holding LLC (“CLF”). CLF is an affiliate of Castlelake, L.P., a global private investment firm.
 
For more information, or to join the Company’s mailing list to receive notification of future news releases, please visit the Company’s website at www.itafos.com.
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